Fueling Misunderstanding about the Oil Market

With gasoline prices at a two-year high, President Barack Obama today called for a crackdown on “price gouging” at the pump. Some consumers may feel relief to hear that the White House intends to protect them from supposedly unscrupulous suppliers.

But the President’s energy policies are a lot more to blame for the current high prices than any market manipulation. And to the extent his “price gouging” rhetoric persists, the rise in oil prices could worsen.